Solar Panel Cost Guide in Falmouth, ME (2023 Update)
- Falmouth Solar Installation Cost: $10,380
- 25-Year Savings: $12,255
- Payback Period: 11.5 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Falmouth
Let's take a look at the average cost of solar in Falmouth.
In Falmouth, solar panels cost about 2.83 per watt on average. The average solar panel system size in Falmouth is around 5.2 kilowatts, meaning a cost of about $10,380 for a solar installation, or $14,843 before the 30% federal solar tax credit is applied.
The true cost of your system can be higher or lower than the average in Falmouth based on several factors, such as the brand of solar panels you choose and the solar contractor you hire. Many homeowners find installing a solar panel system is a fruitful investment. The average homeowner in Falmouth can save about $16,000 on their electricity bills over 20 years.
To see your potential savings and connect with a local solar company, click the button below.
Solar savings over time in Falmouth
| Year | Return on Investment |
|---|---|
| 1 years | $-9,475 |
| 3 years | $-7,664 |
| 5 years | $-5,853 |
| 7 years | $-4,043 |
| 9 years | $-2,232 |
| 11 years | $-421 |
| 13 years | $1,390 |
| 15 years | $3,201 |
| 17 years | $5,011 |
| 19 years | $6,822 |
| 21 years | $8,633 |
| 23 years | $10,444 |
| 25 years | $12,255 |
Top Solar Installers in Falmouth
Installing solar panels by yourself can be a challenging task, which is why getting a solar installation company is a good option for many homeowners. Also, companies with an outstanding reputation that are more expensive upfront could actually save you money in the long term with their warranties, repair services and expert design.
There are a number of licensed solar professionals that can install solar panels for you. Here are our suggestions:
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
See all of the solar companies in Falmouth
Factors that Affect Solar Panel Costs in Falmouth
Cost is usually one of the most important factors for homeowners who want to invest in solar. There are a few major factors that affect your total cost in Falmouth: solar equipment and system size, financing options and the solar installation company you choose. We'll discuss each of these briefly below.
Solar Equipment
When it comes to estimating the cost of a solar panel system in Falmouth, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are largely based on your home's energy consumption, which you can gauge by looking at past electricity bills. Your overall cost can increase by around $2,830 for each additional kilowatt you need. There are a lot of different solar panel brands and the one you pick also affects the cost. Typically, the brands that offer higher efficiency tend to also cost more. In addition, the type of equipment you choose can affect your total cost. If you only need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Most solar companies in Falmouth provide solar loans, which reduce your upfront costs of installing a solar system. Even though solar loans make going solar more accessible for Falmouth homeowners, they can also increase the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. If you make a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
Finally, the company you opt for to install your solar panels can affect how much it costs. Falmouth's solar companies all have different labor costs and add varying upcharges to equipment. The size of the company sometimes plays the most significant role in the installation costs. Larger national companies, like SunPro and Sunrun, often have lower pricing because they have greater resources and better pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or promotion can bring their pricing lower to compete with bigger names.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $2.94 | $12,361 | $13,538 | 11.9 years |
| 8 kW | $2.89 | $16,165 | $18,367 | 11.7 years |
| 10 kW | $2.83 | $19,810 | $23,355 | 11.5 years |
| 12 kW | $2.77 | $23,297 | $28,502 | 11.2 years |
| 14 kW | $2.72 | $26,625 | $33,807 | 11.0 years |
| 16 kW | $2.66 | $29,794 | $39,270 | 10.8 years |
| 18 kW | $2.60 | $32,805 | $44,892 | 10.6 years |
| 20 kW | $2.55 | $35,658 | $50,673 | 10.3 years |
How to Save on Solar Panels
There are a lot of solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you find the right company for you, here are some tips to keep in mind:
- Reputation: Your solar installer should have a good reputation as a company and have demonstrated expertise in the field. A couple of ways to check this are to look for whether a company has technicians certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has positive reviews from previous customers.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their locations and how much efficiency they need. While there are many options for which model of solar panel you can get, not every company will have access to the exact one you may want or need, so be sure to ask for their list of options before deciding.
- Contract: It's important to look over your solar installer's contract closely to understand what services they will provide, what the warranty covers and what you can expect about the cost.
- Installation Process: Homeowners should understand how exactly the installation process will go, as well as important factors like the completion timeline.
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
EcoWatch's Falmouth, ME Solar Cost FAQs
What is the average cost of installing solar panels in Falmouth?
The average cost of solar panels in Falmouth is about $14,150 for a 5-kW system and $28,300 for a 10-kW system before the ITC, but the actual cost will depend on things like the type of solar panels you want, what size system you need and how much energy you use.
Should I lease or buy solar panels in Falmouth?
Leasing solar panels can be an option if you can't pay upfront or secure a solar loan, but since you don't own the system, you don't have access to many solar incentives. Also your property value won't increase, so you'll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most financial benefits from going solar.
How much can I save on energy bills after switching to solar?
Solar panels can potentially eliminate your electricity bills depending on your location and the efficiency of your system. Even if it doesn't get rid of them completely, you can save a lot of money on your bills, about $863.31 per year.
How often do you have to replace solar panels?
Though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they stop working completely at that time. What this means is the amount of energy they produce will have decreased significantly after that point. You can decide to replace them after having them for that long or you can keep using them at a lower efficiency.
Our goal is to reach as many people as we can with sensible solutions like solar energy. Our team of full-time local researchers collects solar price and installation data for every city in America then compiles it to create these digestible city guides. If you want to read our solar expert's opinion on the top solar companies featured here, follow this link.
Company research was conducted by Melissa Smith and Karsten Neumeister. Local data analysis was conducted by James Savino. See something we missed or could do better? Email the editor.